Exclusive: Vancouver Transit Authority has Lucrative Deal with Debit Scheme Interac to Enable and Promote Interac Brand for Open-Loop Payments

Interac card at Compass terminal

Vancouver transit authority TransLink signed a deal with Canadian debit scheme Interac last year that would pay TransLink a total of CA$2.75 million (US$2.1 million) for enabling customers to tap Interac cards and credentials to pay for fares and for promoting the Interac brand, Mobility Payments has learned. […]

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Fixed Interchange Fees Hit U.S. Transit Agencies Hard, While Other Merchants Can Soften Blow

Visa card at OMNY terminal

A wide range of U.S. merchants pay the same fixed debit card fees based on interchange, including supermarkets, gasoline stations, restaurants and hotels. But transit agencies accepting open-loop payments appear to be are among the hardest hit by these fees because of the low value of most of their transactions. […]

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Transit Agency: High Bank Card Fees Would Limit Open-Loop Rollouts in U.S.

SacRT trains visa

A top revenue manager for Sacramento Regional Transit, the agency serving California’s capital city, said he believes there won’t be widespread rollouts of open-loop payments in California or throughout the U.S. until payments networks and banks reduce fees for agencies to accept debit and credit cards. […]

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